Issue of Equity

PRESS RELEASE

BANQUE MAROCAINE DU COMMERCE EXTERIEUR S.A.

« BMCE BANK OF AFRICA »

BMCE BANK OF AFRICA'S SHARE CAPITAL INCREASE

RESERVED FOR CDC GROUP PLC

THROUGH THE EQUIVALENT IN MOROCCAN DIRHAMS

OF TWO HUNDRED MILLION US DOLLARS

BMCE Bank of Africa's board of directors met at the Bank's headquarters in Casablanca on June 18th, 2019, chaired by Mr Othman Benjelloun -the Bank's Chairman and Chief Executive Officer- to authorize:

- CDC Group plc's to acquire about 5% equity stake in BMCE Bank of Africa's through a capital injection of two hundred million US Dollars in Moroccan Dirhams.

- The signing of the supporting legal documents.

Furthermore, an Extraordinary General Meeting will be held within the statutory deadline to decide on a capital increase reserved for CDC Group plc for the amount of the equivalent in Moroccan Dirhams of two hundred million US Dollars.

The supporting legal documents were signed by both parties.

This equity investment in BMCE Bank of Africa by the UK's development finance institution, CDC Group plc - fully owned by the UK government- is part of BMCE Bank's capital plan to support its 2019-2021 Strategic Development Plan, which gives birth to a strategic partnership between the two institutions.

This partnership represents CDC's first direct equity investment in Morocco as well as one of the largest British investments in the Moroccan financial sector. It is a testimony to the two Groups' shared vision and commitment to developing economies across the African continent.